If they were to make toys, I think it'd be like the Vampire squid (an animal whose defense mechanism is flipping its body inside-out, exposing fake spikes and scaring off predators). The arms, legs and head fold up, the torso splits open and the two halves flip inside out, the flipped halves peg together inside out, and the other mode's arms, legs and head fold out. It's more ingenious than ironrod's idea.